Dax futures held 7660 on the move lower but we are holding the range of the past 3 weeks in a market that is directionless. Outlook is therefore unchanged for today.
Immediate resistance at 7721/24 then 7750. A break above 7769 should then allow a test of 7795/7805 highs for the month and tough resistance today. Exit any longs and try shorts with a stop and reverse in to longs again above 7815 for 7826 and above here a run to 7896/7906 to take profit on those longs.
Failure to get through 7724/21 could take us to 7701 and if we continue lower look for 7676/70. Below 7660 we could retest the lower end of January’s range at 7640/32 for exiting any shorts. Try longs again with a stop below 7620 for a test of good support at 7603/7593 and an excellent buying opportunity.